Ukraine-Russia conflict [20] – sanctions: natural resources and tuning measures

Susannah Cogman (+44 (0)20 7466 2580, susannah.cogman@hsf.com), is a partner and Elizabeth Head (+44 (0)20 7466 6443, elizabeth.head@hsf.com) is of counsel at Herbert Smith Freehills.

27/7/22: The UK has implemented amendments to existing sanctions that are designed to limit Russia’s access to goods deemed of significant importance to its economy, as well as barring, from various dates this year, imports of its oil, coal and gold, and the provision of professional services to the country. Meanwhile, the European Union is sharpening up its restrictions with a new “maintenance and alignment” sanctions package covering, inter alia, a broader ban on port access and accepting deposits but also augmented exemptions for agricultural products and transport of oil to third countries. Herbert Smith Freehills lawyers comb the detail in the various regulations.